Forthcoming Articles

Predictability Puzzles

Bjorn Eraker ♦ Dynamic equilibrium models based on present value computation imply that returns are predictable but also generate particular short-term patterns of predictability in asset returns. I take advantage of this to construct a set of tests of Equilibrium…

Choosing Investment Managers

Amit Goyal, Sunil Wahal, and M. Deniz Yavuz ♦ Investment managers connected to plan sponsors are more likely to be hired than not-connected managers. The magnitude of the selection effect is comparable to that of prior performance. Ex post, connections…